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Question 23 ☐ Your yacht production company faces the following demand curve: Quantity 0 1 Price (dollars) 110,000 100,000 90,000 23456 80,000 70,000 60,000 50,000 Suppose the marginal cost of producing a yacht are constant at 75000. If you are a monopolist, how many yachts should you produce to maximize profits?

Question 23 ☐ Your yacht production company faces the following demand curve: Quantity 0 1 Price (dollars) 110,000 100,000 90,000 23456 80,000 70,000 60,000 50,000 Suppose the marginal cost of producing a yacht are constant at 75000. If you are a monopolist, how many yachts should you produce to maximize profits?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 23 ☐ Your yacht production company faces the following demand curve: Quantity 0 1 Price (dollars) 110,000 100,000 90,000 23456 80,000 70,000 60,000 50,000 Suppose the marginal cost of producing a yacht are constant at 75000. If you are a monopolist, how many yachts should you produce to maximize profits?
Transcribed Image Text:Question 23 ☐ Your yacht production company faces the following demand curve: Quantity 0 1 Price (dollars) 110,000 100,000 90,000 23456 80,000 70,000 60,000 50,000 Suppose the marginal cost of producing a yacht are constant at 75000. If you are a monopolist, how many yachts should you produce to maximize profits?
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